PH breaks key support level

Parker-Hannifin Corporation (PH) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


PH breaks key support level
PH dominated by bears dragging the market lower throughout the day
PH breaks below 100-day moving average
PH closes lower for the 4th day in a row
PH ends the day on a bearish note closing near the low of the day


Moving lower for the 4th day in a row, PH finished the week -2.61% lower at 168.00 after losing $2.99 (-1.75%) today on low volume. Today's closing price of 168.00 marks the lowest close since August 1st. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 170.88, the market confirms its breakout through the previous session's low having traded $3.27 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (PH as at Aug 10, 2018):

Daily technical analysis candlestick chart for Parker-Hannifin Corporation (PH) as at Aug 10, 2018

Friday's trading range was $2.44 (1.43%), that's slightly below last trading month's daily average range of $3.78. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Breaking below the key support level at 169.31 today, it is now likely to act as resistance going forward.

Although the share is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory. Parker-Hannifin broke below the 100-day moving average at 168.73 today for the first time since February 5th.

Market Conditions for PH as at Aug 10, 2018

Loading Market Conditions for PH (Parker-Hannifin Corporation)...
Latest Report:

PH closes within previous day's range

Mar 21, 2019
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Parker-Hannifin Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!